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so lets say a week from now when we are closer but not still complete, this time would i only update remaining duration?
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No, you will update actual duration which will recalculate remaining duration based upon the original 53+14. If you need more time then the recalculated remaining duration, then change that value.
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also another question, when i inserted the remaining duration column and made it 14 days why is the % complete calculated to 79% and the work complete % is calculated to 0%?
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I imagine you don't have any resources assigned to the task. Project will only calculate % Work complete if you have assigned resources.